Windlab Limited (ASX: WND) advised that an adjudication determination has been obtained pertaining to a disputed payment claim amongst Kennedy Energy & its EPC contractor.
The determination was made under the Queensland Building Industry Fairness Act 2017 and establishes that Kennedy is supposed to pay $949,740 in milestone payments previously withheld, $6,592,075 in variation claims & delay costs, plus GST.
However, the adjudicator refused to pay $19,615,375 of the claims made by the EPC contractor as well as reversed Kennedy’s earlier invoiced delay liquidated damages & indemnity costs which remain unpaid by the contractor.
Such a determination is under assessment for enforceability. If found to be enforceable, the determination shall be the subject of future legal proceedings to resolve the dispute between the parties.